Centrifuge Secures $15M Series A Funding for Institutional DeFi Expansion

Centrifuge, a renowned platform in on-chain finance, has recently secured its $15 million Series A funding round. ParaFi Capital and Greenfield co-led the oversubscribed round, symbolizing the increasing institutional interest in decentralized finance (DeFi). Notable participants in the funding round include Arrington Capital, Bloccelerate, and Circle Ventures, among others.

Centrifuge Expands Mission to Revolutionize Finance with Increased Funding

The increased capital will support Centrifuge objective of accelerating the adoption of institutional DeFi. In addition to this, it paves the way towards a fundamentally better financial system that is inclusive, and transparent. Lucas Vogelsang, Co-founder of Centrifuge, reiterated the company’s desire to create new opportunities that were previously unavailable rather than duplicating existing off-chain processes.

Centrifuge has raised $15M to scale the adoption of institutional DeFi.

With this round of Series A funding secured, we're excited to share our key focuses for Centrifuge's development, innovation, and adoption across the worlds of traditional and decentralized finance: ↓… pic.twitter.com/xYJ57Kai1K

— Centrifuge (@centrifuge) April 17, 2024

In 2017, when it was founded, Centrifuge became the premier real-world asset tokenization platform with the goal of bridging traditional finance and DeFi. Since its infrastructure is secure and compliant, yet decentralized, it is used by several institutions, while still popular in the on-chain community.

Founder and Managing Partner at ParaFi, Ben Forman, emphasized how impactful tokenizing real-world assets can be on a composable ledger. He also commended Centrifuge for its relevant legal work, regulatory, and smart contract moats as well as the position of the leadership in real-world asset tokenization.

As per its roadmap, Centrifuge is set to introduce on Base, an *ETH* arrangement layer incubated by Coinbase, an institutional-grade lending market for real-world assets. These interoperations will allow institutions to onboard real-world assets safely. Moreover, it offers instant liquidity and the opportunity to borrow against their asset because they are compliant with regulatory requirements.

Coinbase Acknowledges Centrifuge’s Contribution to DeFi Evolution

Coinbase’s Head of Allocators & Tokenization, Anthony Bassili, expressed the firm’s institutional clients’ growing enthusiasm for on-chain tokenization answers. He praised Centrifuge for creating genuine property tokenization while allowing Coinbase Verification and Base integration to be a significant step toward DeFi’s institutional adoption.

Centrifuge intends to spend some of its investment customers to revamp product development, on-chain guest dynamics, and hiring top talent. Centrifuge is well-positioned to lead in institutional DeFi by fostering innovation and cooperation. These both will advance the square’s judgment and use the Blockchain to change the face of worldwide capital markets.